Credit Score Animation

[Tuscani]

Fair Isaac held its annual InterACT conference recently. At the conference they had a "FICO Power Station" that allowed attendees to check their FICO scores for free. At that station the following flash movie played:

FUN FACTS

I thought some of you would find the information given fun and informative! Total run time is about 10 mins.

Enjoy!

[fused]

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Tuscani wrote:

Fair Isaac held its annual InterACT conference recently. At the conference they had a "FICO Power Station" that allowed attendees to check their FICO scores for free. At that station the following flash movie played:

FUN FACTS

I thought some of you would find the information given fun and informative! Total run time is about 10 mins.

Enjoy!

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Sorry Tuscani, this is the only post you made that I don't like.  FICO is patting themselves on the back here. Booooooooo!

[MidnightVoice]

But it does contain some interesting information, I think

[Anonymous]

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fused111 wrote:

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Tuscani wrote:

Fair Isaac held its annual InterACT conference recently. At the conference they had a "FICO Power Station" that allowed attendees to check their FICO scores for free. At that station the following flash movie played:

FUN FACTS

I thought some of you would find the information given fun and informative! Total run time is about 10 mins.

Enjoy!

---

Sorry Tuscani, this is the only post you made that I don't like.  FICO is patting themselves on the back here. Booooooooo!

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This looks like it was for an industry conference and not intended for mere peons like you and I.

At least Tuscani got a free FICO score; most companies only give their employees a t-shirt and a coffee mug.

[Anonymous]

I want a T-shirt.

[Tuscani]

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masdeocho wrote:

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fused111 wrote:

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Tuscani wrote:

Fair Isaac held its annual InterACT conference recently. At the conference they had a "FICO Power Station" that allowed attendees to check their FICO scores for free. At that station the following flash movie played:

FUN FACTS

I thought some of you would find the information given fun and informative! Total run time is about 10 mins.

Enjoy!

---

Sorry Tuscani, this is the only post you made that I don't like.  FICO is patting themselves on the back here. Booooooooo!

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This looks like it was for an industry conference and not intended for mere peons like you and I.

At least Tuscani got a free FICO score; most companies only give their employees a t-shirt and a coffee mug.

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I wish! I wasn't even there!

[Anonymous]

It seams that the new FICO model when released wll see subprime accounts differently.

Account Type Added Predictive Power
New Auto Accounts 4-5%
New Bankcard Accounts 2-3%
New Subprime Accounts 14-16%
New Auto Subprime Accounts 10-12%
New Bankcard Subprime Accounts 10-13%
New Mortgage Subprime Accounts 5-7%

Do I want to chase my WAMU card anymore. I know that the WAMU inquiry on my credit report hurts more because I was denied than if I were excepted. I also see the key here is "NEW". So as the card gets older the score won't probably deduct points instead add points. But really how fair is it if they don't tell us. And relating to my car insurance post... Did I really change from a great driver to a higher risk over night because I have more inquiries on my credit report the next day because I was trying to improve my credit score? How fair is that?

Is there an official place where I can find a list of how prime companies are for credit. I'm scared now to apply anywhere. Does anyone else feel this way?

Link FUN FACTS

[Anonymous]

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ilovepizza wrote:
It seams that the new FICO model when released wll see subprime accounts differently.

Account Type Added Predictive Power
New Auto Accounts 4-5%
New Bankcard Accounts 2-3%
New Subprime Accounts 14-16%
New Auto Subprime Accounts 10-12%
New Bankcard Subprime Accounts 10-13%
New Mortgage Subprime Accounts 5-7%

Do I want to chase my WAMU card anymore. I know that the WAMU inquiry on my credit report hurts more because I was denied than if I were excepted. I also see the key here is "NEW". So as the card gets older the score won't probably deduct points instead add points. But really how fair is it if they don't tell us. And relating to my car insurance post... Did I really change from a great driver to a higher risk over night because I have more inquiries on my credit report the next day because I was trying to improve my credit score? How fair is that?

Is there an official place where I can find a list of how prime companies are for credit. I'm scared now to apply anywhere. Does anyone else feel this way?

Link FUN FACTS

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The inquiry has the same effect whether you were denied or granted the card.

The percentage figures you see -- "added predictive power" -- is FICO's way of telling its customers (banks, lenders ... surely not consumers!) that the new version will be more accurate at predicting risk.  This is a sales pitch.

Yes, it seems unfair to assume that if you have a low credit score, you're more likely to get rear-ended by the idiot driving behind you.  But the auto insurance industry claims that their number crunchers have found a correlation between low FICO scores and high number of auto claims. 

[Anonymous]

My opinion... I was trying to point out that FICO separated prime and subprime. Just the fact that they included bank cards sounds like they will see a difference between them in the new score models. At least that's how I took it.

[MidnightVoice]

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ilovepizza wrote:
My opinion... I was trying to point out that FICO separated prime and subprime. Just the fact that they included bank cards sounds like they will see a difference between them in the new score models. At least that's how I took it.

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Me too.